The Industrial and Commercial Bank of China, which is state-owned, is by some metrics the largest bank in the world.
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China moves to bolster economic recovery with RRR cut
China has announced its first cut in the amount of cash that banks must hold as reserves this year to bolster the economic growth momentum after investment stabilized and consumption rebounded in the …
Ghana finance minister to travel to China for debt talks – source
REUTERS/Cooper Inveen ACCRA, March 20 (Reuters) – Ghana’s finance minister Ken Ofori-Atta will travel to Beijing on Wednesday to meet Chinese officials to discuss a proposed restructuring of Ghana’s …
China’s central bank warns SVB failure shows impact of rapid global rate hikes
A senior official at the People’s Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper …
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Ghana finance minister travels to China for debt talks – source
Ghana’s finance minister Ken Ofori-Atta will meet with Chinese officials in Beijing on Wednesday to discuss a proposed restructuring of Ghana’s debt, according to a source with knowledge of the talks.
China’s Xi set to meet Putin in effort to weaken US standing at ‘highly significant’ gathering
Xi is expected to arrive in Russia on Monday where he is set to meet with Putin during his visit. Observers worry Beijing and Moscow are seeking to create a new world order.
China’s Surprise RRR Cut Puts Focus on Bank Lending Rates
The People’s Bank of China’s surprise easing action late last week has fueled speculation banks may cut lending rates in coming months to help strengthen the economy’s recovery.
Nation to expand financial sector’s opening-up
The country is implementing a larger-scale, wider-ranging and deeper-level opening-up of its financial sector, and will adopt a more proactive opening-up strategy, said Lou Jiwei, head of the Global …
China’s fiscal spending remains strong in first two months
China’s fiscal revenue dropped 1.2 percent year-on-year in the first two months of 2023, while its fiscal spending expanded 7 percent year-on-year, according to the Ministry of Finance. The ministry …
China’s Central Bank Warns SVB Failure Shows Impact of Rapid Global Rate Hikes State Media
Xuan Changneng, a deputy governor at the People’s Bank of China told the Global Asset Management Forum in Beijing that some financial institutions had grown accustomed to running their balance sheets …
China’s US debt holdings at lowest in over 12 years
As the second-biggest foreign holder of US debt, China’s holdings in US Treasury securities slid for six consecutive months to $859.4 billion as of the end of January, down from $867.1 billion in …
China fines Deloitte $31 mln for auditing negligence
for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd (2799.HK), the finance ministry said on its website on Friday. Deloitte’s Beijing operations …